In Bitnation's world, sovereignty shifts decisively from the State to the Citizen. By enhancing cooperation between Citizens and increasing competition among service providers we will improve governance and reduce incentives for violence. Since 2014, Bitnation has established the world’s first voluntary nation, world citizenship ID, refugee ID, and marriage, birth and land title certificate register - all on the blockchain. Bitnation’s decentralized jurisdiction software has been under development since 2015 and our 0.3 MVP will be released for the token sale.
Bitnation's Pangea Jurisdiction Citizens can create voluntary nations, decentralized organizations, and peer-to-peer agreements under any code of law. Citizens can also conduct peer arbitration if disputes arise. Citizens will be able to access governance services offerred on the platform in the form of DApps and bots. Under the hood is a mesh-network with a smartphone chat frontend that will write smart contracts to any blockchain - beginning with Ethereum and in time offering a choice of which blockchain ledger to record agreements on. Pangea’s mesh is delay-tolerant, quantum-safe-encrypted, and uses ID's which are pseudo- anonymous to improve resilience and protect privacy. Contracts are stored and reputation calculated off-chain using a distributed-web file storage system.
Pangea Arbitration Tokens (PAT) can be earned and create incentives for building reputations on Pangea. Pangea’s AI uses an innovative system to automatically distribute non-tradable, proof-of-reputation sub-tokens. Reputation is awarded to arbitrators and contract creators based on other Citizens’ feedback to ensure that services and digital laws can be chosen based on quality. Citizens who accumulate reputation tokens are rewarded with the tradable PAT master tokens.
PAT is an Ethereum compatible in-app token. We are using a price-discovery auction model for our Token Sale Event (TSE) which is hard-capped at US$30 million. The first price-fix will occur after an invitation-only pre-sale. In total, 34% will be sold in the TSE. 34% will be earned on the Pangea platform by Citizens, 18% is allocated to the founders and core contributors, and 14% is reserved for options and bounties. Our partner, Bitcoin Suisse AG will receive orders and secure funds in escrow.